The Reserve Bank today left the Official Cash Rate unchanged at 3.5% – indicating there is the potential for it to fall, rather than an expected rise, in the future.
The RBZN notes our trading partners are still showing weaker economic results, and lower oil costs have crated volatility for some.
“The lower oil price will have a significant impact on prices and activity in New Zealand,” the bank said in its statement this morning. “The most direct and immediate effects are through fuel prices, with the price of regular petrol falling from a national average of $2.23 in mid-2014 to $1.73 currently. Continue reading “OCR unchanged at 3.5%” »